Growth in the Private Flood Market

The private flood market was nearly nonexistent only a few years ago. However, the growth in highly detailed modeling tools opened a whole new market. The ability to differentiate the flood exposure potential of one property relative to the one next door, across the entire country, makes it possible to develop very detailed pricing systems to reflect exposure to flood. Since the historical take-up rate with for flood insurance has been relatively low, and a significant protection gap exists in the market. Can the private market step in to fill that gap? This session will focus on a discussion on the current state of the private flood market; specifically on the solutions available to the property owners and the tools available to carriers that can address the high protection gap that exists and thus the resilience of communities after a flood event.

  • Date:Tuesday, June 8
  • Time:1:15 PM - 2:30 PM Eastern Daylight Time
  • Session Type:Concurrent Session
  • Session Code:CS12
  • Learning Objective 1::Understand what changed in recent years to allow private carriers to get comfortable with this exposure
  • Learning Objective 2::What is the current state of the market for private carriers?
  • Learning Objective 3::What is the role of reinsurance for this product?
  • Level of Knowledge:Level 2: General knowledge of the subject
  • Moderator:Chris Sykes
Speakers
David Evans
Milliman
Matt Junge
Swiss Re
Christopher Sykes
Guy Carpenter
Raghuveer Vinukollu
Munich Re America
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